DIC India Limited, formerly known as Coates of India Limited, was incorporated on April 2, 1947, and changed its name to DIC India Limited in August 2004. The company is a significant player in the Indian printing, publishing, and packaging industry segment, serving top-of-the-line newspapers, magazines, packaging, and printing establishments across the country. DIC India is a part of DIC Corporation of Japan, the world's largest manufacturer of printing inks and allied materials. As of March 2025, DIC Corporation Japan holds a 71.75% shareholding in DIC India Limited through its subsidiary DIC Asia Pacific Pte Ltd, Singapore.
DIC India Ltd has a market capitalization of ₹605 crore as of May 2025. For the year ended December 2024, net sales rose by 6.26% year-on-year to ₹877.52 crore. The company reported a net profit of ₹19.54 crore for the year ended December 2024, a significant improvement from a net loss of ₹22.68 crore in the previous year ended December 2023. However, the net profit declined by 38.33% to ₹2.59 crore in the quarter ended March 2025 compared to ₹4.20 crore in the same quarter the previous year. Despite this quarterly dip, sales for the quarter ended March 2025 rose by 6.04% to ₹209.26 crore.
- Full Year FY2024 Performance: Net Sales of ₹877.52 crore, Net Profit of ₹19.54 crore
- Quarterly Performance (Q1 2025): Net Sales of ₹209.26 crore, Net Profit of ₹2.59 crore
- Market Capitalization: ₹605 crore (as of May 2025)
- Promoter Holding: 71.75% (DIC Corporation, Japan)
- Dividend Recommendation: Final dividend of ₹4 per equity share for FY2024
DIC India manufactures a wide range of printing inks, including newsprint ink, offset ink, liquid ink, Flexographic inks, and lamination adhesives. These products cater to the needs of the newspaper, publishing, and packaging industries. The company's comprehensive product portfolio includes:
- Gravure printing inks (lamination and surface printing)
- Solvent and water-based flexo inks
- Specialty inks (industrial, UV varnish, UV offset, high-speed UV news inks)
- Offset printing, commercial, and packaging inks
- Concentrates, and food-safe and low-migration solutions.
DIC India operates five manufacturing plants located in Uttar Pradesh, Ahmedabad (Gujarat), Kolkata, Karnataka, and at Sakhya in Bharuch district, Gujarat. The company recently inaugurated an advanced toluene-free plant for liquid ink manufacturing, named Optima, at Sakhya, Bharuch. This facility, DIC's fifth in India, is designed to meet the growing demand for Toluene Free/Keyone Free (TF, KF/NTNK) inks, with an initial capacity of 10,000 tonnes of TF, KF/NTNK liquid inks per annum in two shifts.
The company continues to enhance its capabilities through ongoing infrastructure development. DIC India's Sakhya, Gujarat Manufacturing Plant recently saw an expansion with the inauguration of a brand new UV Offset Inks Manufacturing Plant. This expansion is aimed at increasing the plant's capacity to manufacture value-added and specialty products for both domestic and export markets.
The board has recommended a final dividend of ₹4 per equity share for the financial year ended December 31, 2024, with the record date set for March 18, 2025. DIC India Ltd currently has a dividend yield of 0.62%. The company adheres to strong corporate governance practices and serves a diverse clientele including newspapers, magazines, conversion agents, printing and packaging establishments, and national and international printing and packaging entities.
DIC India's legacy spans over seven decades in the Indian market, positioning it as a key player in the printing and packaging industry. Its strategy focuses on continuous innovation and sustainable growth. The strong association with DIC Corporation Japan provides access to global technology and expertise, enabling DIC India to maintain its competitive edge in the domestic market while exploring opportunities for international expansion.
